Oil (current news)

Oil prices are positive at the beginning of the European session. One of the factors contributing to the increase in oil prices is the reduction in the number of drilling rigs in the US over the past week by 7 units to 804 units. Also, support for oil quotations is provided by the possibility of introducing new US sanctions against Iran, but the ongoing fears of a trade war between the US and China may restrain the further rise of the market.

At the moment, WTI crude oil is traded at $ 65.17, adding about + 0.42% to the price.

Brent crude oil is traded at around $ 69.71, adding about + 0.45% to the price.

Also, see Technical Analysis of Oil

Alexander Sivtsov